- Nakul Jain to step down as CEO of Paytm Payments Services on March 31, 2025.
- His resignation is due to his decision to pursue an entrepreneurial journey.
- PPSL is in the process of finding a suitable replacement for Jain.
Nakul Jain, the Managing Director and CEO of Paytm Payments Services Limited (PPSL), announced his resignation effective March 31, 2025, or earlier if mutually agreed.
Despite this leadership change, PPSL remains focused on its goals, particularly its ongoing efforts to secure a payment aggregator license.
Paytm Payments Services CEO Nakul Jain Steps Down to Pursue New Ventures
Nakul Jain’s resignation marks a pivotal moment for Paytm Payments Services Limited, a subsidiary of One97 Communications. As the head of PPSL, Jain led the company through a period of expansion and regulatory challenges. His departure comes as he chooses to embark on his own entrepreneurial journey, a decision that will reshape the company’s leadership.
In its filing, PPSL emphasized that the company remains focused on growth and continuing to meet its objectives, despite the leadership transition. The firm is committed to ensuring a smooth leadership transition and is actively working on identifying a suitable replacement.
Paytm Payments Services is also navigating the approval process for its payment aggregator license with the Reserve Bank of India. The company hopes to receive the necessary approval following a previous setback in 2022, when its initial application was rejected due to non-compliance with FDI regulations.
PPSL has secured approval for downstream investment into the company, allowing it to reapply for the payment aggregator license in August 2024. While awaiting the final approval, PPSL continues to provide services to its existing merchants and remains a key player in the fintech space.
As Nakul Jain steps down, PPSL’s leadership transition will be closely watched. The company’s commitment to growth and securing the necessary regulatory approvals will be critical to its future success.
“Nakul Jain’s decision to step down is driven by his desire to pursue an entrepreneurial journey, marking a new chapter in his professional path.”
